EV bus project in UP

GreenCell Mobility has secured financing from the leading Japanese financial institution Sumitomo Mitsui Banking Corporation (SMBC) for its transformative Electric Bus project in Uttar Pradesh. The project is expected to reduce approximately 2.35 lakh tonnes of gross CO2 emissions over its contract lifespan by facilitating the deployment of nine meters fully built pure AC Electric Buses across eight cities in Uttar Pradesh. The project guarantees a fixed per-kilometer fee, mitigating traffic risk and ensuring a consistent revenue stream similar to an annuity while operating under a 10-year concession agreement.